The Spanish Stock Exchange Trades 19 New Warrants Issued By Société Générale

The Spanish stock exchange today began trading 19 new warrants issued by Société Générale. The underlying assets for the new warrants are commodities, Spanish and foreign stocks and exchange rates.

With regards to commodities, two warrants - one call and one put - were issued on the Brent futures contract with expiry date on 11 May 2005.

Eight warrants were issued on the following Spanish shares: Altadis, BBVA, Endesa, Iberdrola and Telefónica. As for foreign shares, five warrants were issued on Alcatel, Arcelor and Google’s stock.

With regards to interest rates, four warrants were issued on the euro/dollar exchange rate.

Among the issues there are call and put warrants, with expiry dates in May, June and September 2005. Except for the Brent contract, which is European style, the rest of the issues are American style, that is, they are automatically exercised on the expiry date.

With these new issues, the total number of warrants traded on the Spanish stock exchange is 1,539 to date, which represents a 57% increase on the figure for the year 2003 and a new record.